As a follow up to our blog yesterday, UK merchants are reporting selling out of Chateau Lafite Rothschild 2008 following the news that the bottles will carry the Chinese symbol for 8 when the wine is bottled next year.
On Tuesday morning UK time, the price of a case of Chateau Lafite Rothschild 2008 was trading at £8,500 on trading platform Liv-ex. By Wednesday lunchtime it had risen to £10,160, a rise of just under 20%.
The message is clear, major European producers understand that the Chinese market represents a huge opportunity. But what we find most exciting as we’ve travelled across China and spent weeks in Hong Kong is that the region is emerging as a hub for production as well. As the years go on China will be a collector, consumer and producer, and that legitimizes the market.
Congrats to Rothschild for getting in early.